%@ Page Language="C#" AutoEventWireup="true" Inherits="System.Web.UI.Page" %>
Dave also has an IRA valued at $100,000.00 and has reached the age where he is required to take an annual distribution. He would prefer not to have the income from the distribution as it will push him in to a higher tax bracket.
Dave and his wife have supported Soka for 10 years with annual donations of $1,000 and were searching for a way that would allow them to continue to support Soka in to the future. They decided to take advantage of the tax-saving opportunity recently passed by Congress which allowed them to make a gift to Soka directly from his IRA. Under this legislation, IRA owners age 70 ½ or older can gift up to $100,000 per person directly to a charity of their choice. Because the IRA was transferred directly to Soka, the amount of the gift will not be included in their taxable income.
This legislation which currently ends December 31, 2009 presents a tremendous opportunity for those with IRA accounts to make gifts to Soka and potentially reduce income and estate taxes. If you would like to learn more about this please call Linda Kennedy at 949-480-4072 or email@example.com.